Fizzy drinks Essay

Aim The aim of the experiment is to check whether pH of the chosen fizzy drink is basic, neutral or acidic. To find the answer the titration method will be used. The chosen fizzy drink will be Sprite due to its transparency (it is easy to see when the color changes during the experiment). Hypothesis Sprite will probably have acidic pH (smaller than 7) as one of ingredients is citric acid. However as it is drink used by people pH cannot be to small as it would be harmful to the human organism. As I checked pH of Sprite should oscillate somewhere around 2.75. Theory â€Å"A titration is a method of analysis that will allow you to determine the precise endpoint of a reaction and therefore the precise quantity of reactant in the titration flask. A buret is used to deliver the second reactant to the flask and an indicator or pH Meter is used to detect the endpoint of the reaction. A typical titration begins with a beaker or Erlenmeyer flask containing a precise volume of the reactant and a small amount of indicator, placed underneath a burette containing the reagent. By controlling the amount of reagent added to the reactant, it is possible to detect the point at which the indicator changes colour. As long as the indicator has been chosen correctly, this should also be the point where the reactant and reagent neutralise each other, and, by reading the scale on the burette, the volume of reagent can be measured. As the concentration of the reagent is known, the number of moles of reagent can be calculated (since concentration = moles / volume). Then, from the chemical equation involving the two substances, the number of moles present in the reactant can be found. Finally, by dividing the number of moles of reactant by its volume, the concentration is calculated.† In this case phenolphthalein is the indicator as it stays transparent in the acidic or neutral environment and changes its color into pink in the acidic environment. Materials – NaOH – 5g – Sprite – 125 ml – Phenolphthalein – Distillated water 250ml Apparatus – balance – burette – spatula – Erlenmeyer flask – Beaker – Cylinder Variables – volume of NaOH – type of fizzy drink – volume of the fizzy drink – precision Procedure 1. Prepare all needed apparatus and substances 2. Weight 5g of solid NaOH and put it into beaker 3. Fill the beaker with 250 ml of distilled water to make 0.5 mol NaOH solution 4. Fill the burette with NaOH solution and write down to what level the burette is filled so you can later know how many of the solution was needed to neutralize fizzy drink 5. Measure 25 ml of Sprite in the cylinder 6. Put 25 ml of Sprite into the flask 7. Add to it 4 drops of phenolphthalein 8. Put the flask under the burette 9. Slowly pour the NaOH solution into the flask with Sprite 10. When the color of Sprite is pink stop the titration (it is important to be precise) 11. Write down how many NaOH solution was needed to neutralize your fizzy drink 12. Repeat steps 4-11 five times to get some more reliable results 13. After you finished your experiment neutralize NaOH solution that you still have and then clean the equipment you used during the experiment. Safety guidelines !!! – Work areas should be arranged so that a person does not need to travel through a high-hazard area while attempting to exit the laboratory during an emergency. !!! – Eyewashes and showers must be accessible to all chemical laboratories. !!! – Do not consume food and drink in the laboratory. !!! – Wear your googles and gloves to protect your eyes and skin !!! – Move in the labolatory carefully !!! – Keep the labolatory clean in order to prevent any accidents !!! – Pay particular attention to the protection of eyes and skin because NaOH can couse damage to your. !!! – Confine long hair while working in a labolatory. !!! – Do not panic if you have done something in a wrong way, just report your teacher and do what he/she has said !!! – Flush away all accidentally spilled substances with water and report your teacher !!! – Neutralize the remaining substances and remove them from equipment !!! – Wear your gown while working in lab Data Collection number of the test Initial quantity of NaOH solution in burette (in ml) Final quantity of NaOH solution in burette(in ml) Quantity of NaOH solution used to neutralize fizzy drink(in ml) Table 1. data collected during the experiment Data Processing and Presentation In order to find the pH of Sprite at first the average quantity of NaOH solution used to neutralize the fizzy drink has to be calculated: ml In order to make some other calculations ml has to be changed to dm3 1 dm3 = 1000 ml Hence: 5.18/1000 = 0.00518 dm3 Next the number of moles of NaOH solution used in the experiment has to be determined from the formula Where: n is number of moles C is molar concentration V is volume in dm3 Hence: Next the number of H+ ions in the solution has to be determined using the following formula: , where [H+] is the molar concentration n is number of moles of H+ ions V is the volume of the solution As number of moles of OH- ions in the solution is equal to the number of moles of H+ ions, nH+ = nOH- = 0.00259mol By knowing this pH of Sprite can be calculated by using the formula below: pH = -log[H+] pH = -log0.1036 pH = 0.98464 Conclusions The result obtained in the experiment differs a lot from the reality (pH is approximately 2.75). Even not knowing the proper value of pH of Sprite it is rather obvious that the result is wrong as no substance drank by human can have such a little pH. This would destroy our organism and therefore could not be sold as a fizzy drink. The percentage error equals: This is a huge difference and it can be explained by a number of reasons: 1. we did not catch the exact moment of neutralization but the moment, when the mixture was already basic so, this difference in time can be crucial 2. little differences in measurements during the experiment could also be the cause of mistake 3. the time when the color of phenolphthalein did not disappear could be measured wrong and that can be another cause of mistake Summing up these sources of mistake could not change the result in such a great extend – 279%. Although the results of the experiment were imprecise, the aim was partially achieved. Sprite was proved to have acidic pH. Evaluation The experiment could be done on some greater amounts of Sprite so that the results would be more precise. Although 5 tests were made, maybe some more should be done to make the data collected during the experiment more reliable. Besides that it is hard to find some other ways to make the experiment better or more reliable as the titration method is quite precise and the results should not differ much from the reality. Sources: – â€Å"Chemistry for the IB Diploma (standard and higher level)† by Geoff Neuss – â€Å"Chemistry† (second edition) by John Green and Sandru Damji – www.en.wikipedia.org entry: titration

Software Developer

R N S INSTITUTE OF TECHNOLOGY CHANNASANDRA, BANGALORE – 61 UNIX SYSTEM PROGRAMMING NOTES FOR 6TH SEMESTER INFORMATION SCIENCE SUBJECT CODE: 06CS62 PREPARED BY RAJKUMAR Assistant Professor Department of Information Science DIVYA K 1RN09IS016 6th Semester Information Science and Engineering [email  protected] com Text Books: 1 Terrence Chan: Unix System Programming Using C++, Prentice Hall India, 1999. 2 W. Richard Stevens, Stephen A.Rago: Advanced Programming in the UNIX Environment, 2nd Edition, Pearson Education / PHI, 2005 Notes have been circulated on self risk nobody can be held responsible if anything is wrong or is improper information or insufficient information provided in it. Contents: UNIT 1, UNIT 2, UNIT 3, UNIT 4, UNIT 5, UNIT 6, UNIT 7 RNSIT UNIX SYSTEM PROGRAMMING NOTES UNIT 1 INTRODUCTION UNIX AND ANSI STANDARDS UNIX is a computer operating system originally developed in 1969 by a group of AT&T employees at Bell Labs, including Ken Thompson, Dennis Ritchie, Do uglas McElroy and Joe Ossanna.Today UNIX systems are split into various branches, developed over time by AT&T as well as various commercial vendors and non-profit organizations. The ANSI C Standard In 1989, American National Standard Institute (ANSI) proposed C programming language standard X3. 159-1989 to standardise the language constructs and libraries. This is termed as ANSI C standard. This attempt to unify the implementation of the C language supported on all computer system. The major differences between ANSI C and K&R C [Kernighan and Ritchie] are as follows: ? Function prototyping ? Support of the const and volatile data type qualifiers. Support wide characters and internationalization. ? Permit function pointers to be used without dereferencing. Function prototyping ANSI C adopts C++ function prototype technique where function definition and declaration include function names, arguments’ data types, and return value data types. This enables ANSI C compilers to check for function calls in user programs that pass invalid number of arguments or incompatible arguments’ data type. These fix a major weakness of K&R C compilers: invalid function calls in user programs often pass compilation but cause programs to crash when they are executed.Eg: unsigned long foo(char * fmt, double data) { /*body of foo*/ } unsigned long foo(char * fmt, double data); eg: int printf(const char* fmt,†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ); External declaration of this function foo is specify variable number of arguments Support of the const and volatile data type qualifiers. ? The const keyword declares that some data cannot be changed. Eg: int printf(const char* fmt,†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ); Declares a fmt argument that is of a const char * data type, meaning that the function printf cannot modify data in any character array that is passed as an actual argument value to fmt.Volatile keyword specifies that the values of some variables may change asynchronously, giving an hint to the compiler’s optimization algorithm not to remove any â€Å"redundant† statements that involve â€Å"volatile† objects. char get_io() { volatile char* io_port = 0x7777; char ch = *io_port; /*read first byte of data*/ ch = *io_port; /*read second byte of data*/ } ? eg: If io_port variable is not declared to be volatile when the program is compiled, the compiler may eliminate second ch = *io_port statement, as it is considered redundant with respect to the previous statement. Prepared By: RAJKUMAR [Asst. Prof. ] & DIVYA K [1RN09IS016] Page 1 RNSIT UNIX SYSTEM PROGRAMMING NOTES The const and volatile data type qualifiers are also supported in C++. Support wide characters and internationalisation ? ? ANSI C supports internationalisation by allowing C-program to use wide characters. Wide characters use more than one byte of storage per character. ANSI C defines the setlocale function, which allows users to specify the format of date, monetary and real number re presentations. For eg: most countries display the date in dd/mm/yyyy format whereas US displays it in mm/dd/yyyy format. Function prototype of setlocale function is: ? #include char setlocale (int category, const char* locale); ? The setlocale function prototype and possible values of the category argument are declared in the header. The category values specify what format class(es) is to be changed. Some of the possible values of the category argument are: category value effect on standard C functions/macros LC_CTYPE LC_TIME LC_NUMERIC LC_MONETARY LC_ALL ? ? ? ? ? Affects behavior of the macros Affects date and time format. Affects number representation format Affects monetary values format combines the affect of all above Permit function pointers without dereferencing ANSI C specifies that a function pointer may be used like a function name.No referencing is needed when calling a function whose address is contained in the pointer. For Example, the following statement given below d efines a function pointer funptr, which contains the address of the function foo. extern void foo(double xyz,const int *ptr); void (*funptr)(double,const int *)=foo; The function foo may be invoked by either directly calling foo or via the funptr. foo(12. 78,†Hello world†); funptr(12. 78,†Hello world†); K&R C requires funptr be dereferenced to call foo. (* funptr) (13. 48,†Hello usp†); ANSI C also defines a set of C processor(cpp) symbols, which may be used in user programs.These symbols are assigned actual values at compilation time. cpp SYMBOL USE _STDC_ Feature test macro. Value is 1 if a compiler is ANSI C, 0 otherwise _LINE_ Evaluated to the physical line number of a source file. _FILE_ Value is the file name of a module that contains this symbol. _DATE_ Value is the date that a module containing this symbol is compiled. _TIME_ value is the time that a module containing this symbol is compiled. The following test_ansi_c. c program illustrates the use of these symbols: #include int main() { #if _STDC_==0 printf(â€Å"cc is not ANSI C compliant†); #else printf(â€Å"%s compiled at %s:%s.This statement is at line %d †, _FILE_ , _DATE_ , _TIME_ , _LINE_ );

Chapter 12 Holt Ancient World History

Chapter 12 1. A) Justinian I was an emperor of the Byzantine Empire. He reformed the roman laws by rearranging them and putting them in order. The revised law code called Justinian’s Code. B) Theodora influenced the nika revolt because she stood strong and convinced her king to do the same. C) Justinian could have made his achievements by being more conscious of how much land his government could support when he was taking over the land to the west. 2. A) A mosaic is a piece of art comprised of small pieces of colored tile or glass. Mosaics were one of the most common types of Byzantine art.B) I believe that the iconoclasts responded the way they did to the human images because it seemed to them like the images were to close to the non-Christian worship of an idols. C) The split between the Orthodox and the Roman Catholic Church occurred because of their many differences the most important of which was who in the church had the most power. 3. A) Under the Macedonian dynasty th e Byzantine Empire enjoyed a 200 year golden age. B) The split between the aristocracies of city and countryside was a problem because it caused them to fight within their empire which weekend them to outside attack.C) The statement, â€Å"The Byzantines themselves, not the Turks, bear the greatest responsibility for the end of their empire,† is completely true. Section 2 1. A) The Slavs asked for help from the Rus to bring â€Å"Order† to their way of living and act as a kind of king. B) The accomplishments of Yaroslav the Wise are: fact that he became ruler of Kiev Rus, He hired scribes to translate religious books from Greek to Slavic, and under his rule the Russian law was codified, and he helped regain territory that had been lost.C) The physical geography may have affect the relationship between the Byzantine Empire and the Kievan Rus because since the where so close there seems as if there might be some territorial issues. 2. A) Cyril And Methodius converted Sla vs to Christianity. B) Vladimir I impacted Russian Christianity by converting then marrying the sister of the Byzantine Emperor. He also built libraries, schools, and churches. Then he made Christianity the state religion. C) I think Christianity spread more in he city then the country side because cities have more people which means it was probably more promoted. 3. A) Alexander Nevsky was known as a Russian hero. Not only did he defeat the Swedes and the Teutonic Knights, he also was the Mongols vessel. B) I think Invasions from the outside caused more damage to the Kievan State then Internal problems because they always seemed to be under attack. First, being attacked from the east, Then the north and then being invaded again by the Teutonic Knights.Section 3 . A) Alfred the Great was the kind of Wessex. He helped defeat the Danish Invaders and joined forces with Anglo-Saxon England. He also compiled a code of laws and promoted learning. B) The Franks converted to Christianity be cause their leader, Clovis, swore that if they won the battle be could become a Christian. The Franks won, and all his troops followed in Clovis’s footsteps. C) I think Western Europe broke apart probably because they didn’t have a unifying leader. Everyone in that age wanted power to themselves. . A) Patrick spread Christianity throughout Ireland without giving a care how he was treated. By the time he died he achieved making almost all of Ireland Christian. B) Gregory the Great was a Roman Catholic pope. His major achievement was restoring monastic discipline, and was zealous in propagating Christianity. C) I think Christendom affect medieval Europe in a small way. It was just another society that promoted Christianity and its customs. 3. A) Life for a Celtic Monk is quiet and reserved.They liked to be isolated from the rest of society because they felt as though it would keep them from being distracted from their faith. They like to fast and spend days at a time in solitary contemplation. B) Benedictines and Celtic monasteries were similar because they both where groups of monks who were very dedicated and focused on their religion. They were also both led by Abbots. They are different from each other because the Benedictines were open to the public about their religion and were not as brutal then the Celtics.Celtics often did intense fasts and like to be isolated and away from social activity. C) I think that the most significant thing that the Benedictines did was run schools that help educate and create the â€Å"Finest Minds† of the Middle Ages. This led to smart people copying important ancient manuscripts to help keep the knowledge of Greece and Rome alive. Without those manuscript, we probably would be reading this chapter and a big chunk of history would be undiscovered.

Critically discuss the selection, role and responsibilities of the Essay

Critically discuss the selection, role and responsibilities of the expert witness in the criminal justice system - Essay Example Nonetheless, not every piece of evidence in a case is presented to the adjudicators; just the evidence that is important and acceptable serves a function in the conclusion of a case. Hence, an expert is defined in the legal system as ‘a person who, by reason of education or special training, possesses knowledge of a particular subject area in greater depth than does the public at large’2. With the rising difficulty of cases, specifically those that involve technical or scientific issues, the expert witness has become crucial to litigation’s success. The Rule 702 states that experts have a substantial influence over usual witnesses due to the fact that they are â€Å"the only witnesses who are permitted to reflect, opine, and pontificate. Experts can provide a bridge between the particular facts of a case and patterns of fact that can be observed and understood only through much wider study†.3 In general, experts are perceived as favourable contributors in c ourt trials. Nonetheless, experts can be at the same time described as ‘hired guns’ and ‘liars’.4 Regardless, one thing is for sure: the exploitation of experts is persistent. Indeed, experts have been equated to litigations. As stated by Robert R. Detlefsen, â€Å"The expert witness has become a fixture in high-stakes civil trials†.5 This is factual for a broad array of explanations, not the least of which is the growing difficulty of issues that comprise contemporary tort litigation and the continuously evolving procedures in the management of business processes: â€Å"the use of experts in courtroom trials is so prevalent today that the question confronting litigators is usually not whether to hire an expert witness, but rather how many to employ and where to find them.†6 Hence, this essay will discuss the selection, role, and responsibilities of the expert witness in the criminal justice system in the UK. Role of Expert Witnesses in the En glish Legal System Just as the essence or value of the testimony of an expert witness differs, so does the expert witness’s role in the legal system. In several instances, the expert witness is employed to discern issues or loopholes in the statement of fact witnesses. Expert statement, in other instances, is required to satisfy the ‘burden of proof’7 so as to create a defence or claim. Expert witnesses, occasionally, are used mainly to compete with the experts of the opposing side and to further strengthen the defence or claim of the proponent. Even though experts are generally determined by their role as witnesses at litigations or in deposition, they can help lawyers in the establishment of the case prior to trial as well. Lawyers may use experts to assess the work and official documents of other experts.8 Moreover, experts may help lawyers make sense of the technical features of a case by analysing documents and information generated by the parties and by stu dying and analysing subject matters in a case.9 Furthermore, experts can assist in the preparation of requests for information and documents which may turn into acceptable proofs, or they can formulate questions for cross-examination and direct questioning of witnesses.10 Expert recommendation may be crucial in strengthening the case prior to the trial by formulating compelling causation theories11 which should be presented to and reviewed by the jury. Another major role of expert witnesses may be to carry out trials linked to a component implication in the litigation and to

NOKIA Essay Example | Topics and Well Written Essays - 2000 words

NOKIA - Essay Example eting Mix is a combination of variables which can be controlled by the organization, and those variables which can be used to increase the buyer’s numbers and also improve the buyer’s response. The variables are the 4p’s of marketing mix which are the Product, Price, Place, and Promotion of every product launched by every company as every firm tries to create all these variables in the correct perfection to achieve the highest customer satisfaction (Burrow, 2011, pp. 172-177). This refers to the various goods and the particular services being provided by the company to its target customers. Customers do buy a particular product because of their needs and they look to get high level of satisfaction from the product which they buy and spend their money in buying. Price is the variable which refers to the amount that the particular product or service is been charged from the customers. It is one of the very important variables as setting up the right price for the product or service is very important, as it affects a lot on the buyer’s buying decision. The goods or services been provided to the customers must be at the reach of the customers, customers will always prefer a service or a product which is easily available to them. So deciding the correct place for the launch of the particular product and the chain through which it is been launched is very important decision to be made. Customers must have the knowledge about the products or services that are been developed by the companies. For making the products visible and creating its brand image in the market it is very important to pitch the product in the market in the correct way using the various platforms like advertising, publicity and sales promotion. This helps the company to make their products visible to the customers and make their message reach the customers (Belchand and Michael, 2005, pp. 75-82). Nokia started way back in 1865, it first started with the production of paper that was been

How could pivotal events in America have turned out differently Argue Essay

How could pivotal events in America have turned out differently Argue for an alternate history into the present using evidence - Essay Example as popular with the troops in Korea, he believed that with his command of the UN forces, and US support, he had autonomy from the American government (Pak 42). Truman viewed the war as a war against North Korea while MacArthur observed it as a confrontation with both North Korea and China. By 1950, the General began contemplating of the notion of utilizing nuclear strikes because the Chinese kept their forces closely together and thus vulnerable to air strikes (Malkasian 5). The idea of utilizing A-Bombs would have resulted in the successful detonation of 28 atomic bombs and thus would have changed the course of history in reference to the war. With various regions in Korea bombarded by nuclear weapons, the Korean War would end as a result, for various reasons. During the war, Chinese forces were closely knit together, and an airstrike would alleviate any actions they had planned. In the 1950s, the Chinese government lacked the ability to develop nuclear weapons and thus did not possess any atomic bombs. Therefore, Communist China would surrender in view of preventing a nuclear strike in their homeland. The main concern for the American government would be the Soviet Union as they also developed nuclear weapons at the time, which had the potential to cause tremendous problems (Dijk, Ruud van et al. 37). Consequently, with United States and Soviet Union utilizing weapons of mass destruction, nuclear weapons would turn out to be conventional weapons of combat by numerous countries around the globe. Therefore, in a world where the Soviet Union developed atomic Bombs, such a pursuit of victory would have resulted in World War III due to the wide spread of atomic bombs. As nuclear weapons would play a significant role in the WWIII, traditional bombings, infantry matches and armor offenses would typify the warfare. The effects of the A-Bomb would have various ramifications of a political nature internationally and in the United States. The utilization of the atomic

Analyze opportunity Assignment Example | Topics and Well Written Essays - 250 words

Analyze opportunity - Assignment Example such, with the increase in the number of individuals across different cultures preferring to take breakfast away from home, McDonalds is represented with a unique opportunity to increase its entrees in order to accommodate such individuals’ needs. In addition, with the new wave of globalization, McDonalds faces an opportunity to expand to other countries that they have not been able to reach yet (Yuece, 2012). Case in point, expansion into these countries requires the company to expand its entries in order to incorporate the cultural preferences of individuals within the new markets. Moreover, with the struggling global economy, McDonalds can increase the breakfast entrees to accommodate individuals with low income. This would allow the organization to reach out to a wider range of the consumers and increase the market share. Given the opportunities towards which McDonalds is exposed, there are various recommendations that would facilitate the organizations increase of breakfast entries. One of the recommendations is for McDonalds to provide new healthier entrees that would counter the various issues that have arisen concerning the negative impact of its foods on health. In every occasion and market, it is important for McDonalds to target markets using clear personalized positioning, with a detailed understanding of the breakfast needs and preferences of the targeted market. Lastly, through increasing the advertising and promotional techniques, McDonalds would be able to use its large market share and brand loyalty to increase publicity concerning new breakfast entries and thus increase

HOW TO ATTRACT MORE BUSINESS MAJORTO QUEENSBOROUGH COMMUNITYCOLLEGE Essay

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Need for a Lean Initiatives - Research Paper Example Management is a complex function that determines a company success, delivering of affordable goods and quality goods, a trustable delivery and continuous innovation throughout the companies’ entire functioning chains (Arnheiter & Maleyeff, 2005). Determinants of efficient management are measured by the companies’ market network and the shareholder value. If the two factors increase then the companies have realized good management skills. Nike and Adidas are two European countries that work with an aim of outdoing each other from the market by improving their strategic management. Most of the strategies are based on their supply chain and marketability of their products. The aim of this study is to compare and to contrast the management styles of the two companies in the context of how they affect organization behavior. According to Locke and Romis (2012), a lean management system incorporates a strategy that ensures daily progress, meaningful purpose, and lasting value. The Footwear market is characterized by dynamic factors; most of the changes are short period. The demands in the market are not flexible, and the purchases are sometimes high and other times small. Additionally, the products from the manufacturing industry to the market usually follow a short product lifecycle. Adidas Company has instituted lean initiatives in management, focused to decrease the costs and to improve their supply chain processes. However, lean initiatives make the company prone to risks that occur because of relying on other supply chains, elements and other interruptions (Locke & Romis, 2012) Nike Company has adopted a management strategy referred to as a Subcontracting Management Plan. The strategy has advantages for the company marketing strategies, and it ensures that the markets are unique from other companies offering similar products, and the production process is determined by the

Utilitarianism. Jeremy Bentham (1748-1832) and John Stuart Mill Essay

Utilitarianism. Jeremy Bentham (1748-1832) and John Stuart Mill (1806-1873) - Essay Example As Bentham wrote in Chapter 1 of ‘An Introduction to the Principles of Morals and Legislation,’ "By the principle of utility is meant that principle which approves or disapproves of every action whatsoever, according to the tendency it appears to have to augment or diminish the happiness of the party whose interest is in question: or, what is the same thing in other words, to promote or to oppose that happiness." (Bentham, 1823) Utilitarianism addresses the philosophical problem that occurs in the definition of â€Å"the good† in a pluralistic society where many people may differ on defining exactly what constitutes objective standards in moral reasoning. Utilitarianism is important in its relationship to the development of empirical standards in science to replace theological justifications of right and wrong in society, as well as in the growth of democracy, which required a solution to moral issues related to the disagreement among groups with different standar ds of belief. Utilitarianism is often summarized as â€Å"the greatest good for the greatest number† being used to calculate the moral correctness of an action, decision, or policy for both individuals and society on a common standard. According to Larsen (2011), utilitarianism is â€Å"a normative ethical theory under ethical Naturalism† and also a â€Å"teleological – consequential (outcome based) – ethical theory†.... ed upon their outcome in society in producing the greatest good for the greatest number of people, and that the ‘utility’ of an action can be calculated through its use in the production of this social good. Utilitarianism as a guide to personal behavior can relate to both personal experiences of happiness or pleasure as a guide to conduct and a recognition of the greater good of society as a higher motivation for service. Through this, the basis for moral action is established in Utilitarianism for both the individual and society. One of the major ways that Bentham and Mill differed in their theory of Utilitarianism is that Bentham based his definition of ‘the good’ in a limited formulation of pleasure and pain that defined happiness objectively through the individual, but tended to reduce Utilitarianism to the principles of hedonism, while Mill based his definition of Utilitarianism in a conceptually expanded view of happiness that included societal ideals , virtues, and altruistic beliefs of human activity in order to represent ‘the greater good’ in a wider manner. (Driver, 2009) Another difference is that Bentham is regarded retrospectively as proposing â€Å"Act Utilitarianism† whereas Mill was an advocate of â€Å"Rule Utilitarianism†. (Lotito, 2002) Act Utilitarianism applies logic and reasoning to each individual and collective activity in order to determine through direct cognition, moral reasoning, and reflection whether or not the activity serves the happiness of the greatest number of people. Rule Utilitarianism seeks to establish predetermined rules of order related to moral reasoning that can be applied by the individual or groups in making decisions that operate on their own fundamentals of interpretation according to utilitarian logic and can

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Anna M. Kerttulas Antler on the Sea Essay In her book, Antler on the Sea, Kerttula discusses how Soviet government policies aimed to integrate the northern peoples of the USSR in reality helped the groups to maintain their identities as they defined themselves in opposition to one another. According to Kerttula, in Sireniki, the very system that sought to control and homogenize difference reinforced it (155). Kerttula illustrates the extent to which much of the native culture has survived the Soviet period. This trend is particularly prevalent as Kerttula progresses through her descriptions of Yupik, Chukchi, and Newcomer lifestyle and practices. The development of collective group identity and cultural transformation among northern indigenous peoples in the Soviet Union was heavily influenced not only by the structure of the Soviet system but also by the provoking of oppositional relationships between the groups. Kerttula effortlessly explains the interrelationships of the many opposing forces: tundra and sea, Yupik and Chukchi, natives and newcomers, and old and new ways in the North. These relationships were based on prior cultural forms, symbols and meanings but as a result of Soviet influence, local cultural boundaries were transformed and the ensuing dialogue of difference was encouraged. As Kerttula asserts, it is the we/they dichotomy that for many anthropologists defines an ethnic group (152). The Soviet state, with its ideological, political and economic goals, changed the structure of the interactions between local and immigrant groups, but was unable to change the cultural content of their discourse. According to Kerttula, historically the Yupik, Chukchi and Russians had very limited contact with one another. Prior to forced relocations and settlements that occurred with collectivization, the Yupik lived at Sireniki and met with the Chukchi occasionally for the limited purpose of trade (123). After collectivization the three groups were forced to live in a single locality and thus new dynamics and an increased frequency of interaction changed the ways that the Yupik, Chukchi, and Russians (Newcomers) worked together. As Kerttula points out, the cultural definitions and descriptors of the three groups were not always in agreement; quite often they clashed. For example, Kerttula generalizes on the Newcomers feelings of superiority to the Yupik  and Chukchi. Accordingly, this attitude of superiority was intensified by the physical separation of the three groups, both at their place of work and in their free time (152). It was the Newcomers familiarity with the Russian social structure that in fact led to this so-called superiority (152). Similarly, the Yupik and Chukchi view one another as, for instance, receiving favoritism in their language instructions at the local school. Parents are cited as believing the other group to be receiving better instruction: The Chukchi complained that there were more Yupik lessons than Chukotkan, and Yupik parents complained that the quality of the Yupik lessons were substandard (154). Unlike the Nivkhi described by Grant, the Yupik and Chukchi do not express a feeling of culturelessness. As both groups have been able to maintain dominant aspects of their traditional lifestyle, the sense of loss seemed to be felt to a lesser degree (although they did lose language and the freedom to hunt whales). The Yupik could remain defined primarily by their affinity for and connections to the sea while the Chukchi could remain defined primarily by their affinity for and connections to the tundra. Modernity within the community of Sireniki was integrated in a way that was advantageous for the people. As Kerttula points out however, instead of questioning the governments socialist tactics, most looked more locally to the others in the community (151, 153). These collective identities enabled the Yupik, Chukchi, and Newcomers to accept Soviet designated social and economic conditions by infusing these conditions with their own cultural knowledge, making them meaningful and reproducible. Kerttula captures the disharmony tolerated by indigenous people in the Soviet period as they retained their own beliefs and customs while adapting to altered environments and economic change. As Kerttula reiterates many times, modernity has brought many unexpected and unwelcome changes. Most importantly, the state has used the discourse of modernity to once again portray indigenous peoples in a way that suits their needs as an administrative body. Instead of looking to the heavy restrictions enforced by the Soviet system, the people of Sireniki focused their discourse on each other and looked to each other as being a source of some of their problems (155). Toward the end of her book, Kerttula points out a fundamental problem in the collective group definitions: if the groups defined their identities in opposition to one another, what happens to those who married cross-culturally? In her discussion of possible division within the community into different associations, this problem came to the forefront. As one of Kerttulas informants asks, to which association would the child of both Yupik and Chukchi parents belong? (152). Theoretically the three groups existed separate from the other two. In reality though, intermarriage and the creation of friendships were relatively common inter-ethnically. The individual cultures were not only subjective, but also laden with political and social questions of identity and personhood (151). What makes the case at Sireniki unique is that three distinct cultural groups were essentially forced to live together in relative peace while each simultaneously sought to prolong and promote their own traditional practices and beliefs. Kerttulas investigation and analysis is of how collective identities were facilitated among the two indigenous groups and one immigrant group in order to maintain their cultures in the face of rapidly changing social and material circumstances (153).

Business Ethics and Corporate Social Responsibilty Essay Example for Free

Business Ethics and Corporate Social Responsibilty Essay Business ethics and corporate social responsibility Introduction Anglo American is one of the world’s leading mining companies. It is a UK public limited company and operates on a global scale. Anglo American operates mainly in the primary sector of the world economy. This, as the name suggests, covers industries involved in the first stage of economic activity, such as mining and agriculture. Anglo American operates throughout the world. It has extensive operations in Africa, where 76% of its employees live. It is also a major employer in Europe. Its Tarmac aggregates and construction products business employs nearly 7,000 people in the UK. As a primary producer, Anglo American plays an important role in the world economy. Anglo American produces five main types of raw material.†¢ Business ethics †¢ Corporate social responsibility †¢ Effects of ethical behaviour †¢ Benefits of ethical behaviour Public limited company: a company whose shares are traded on the London Stock Exchange, denoted by the initials plc. Primary sector: the first stage in producing goods. Pressure group: an organisation formed by people with a common interest who get together to further that interest, for example, nongovernmental organisations. Ethics: moral principles or rules of conduct and behaviour accepted by members of society. Corporate social responsibility: the responsibility of an organisation to wider society, to a range of stakeholders including the community and society at large. Mining operations can have a big impact on the environment and on the societies where they work. Since most mineral resources belong to nation states, mining companies largely depend upon a licence to operate from governments. This allows them to extract and process minerals in return for investment and the payment of taxes and royalties. Increasingly it is also important to get the consent of local communities to mining development – a ‘social licence’ to operate. Like all businesses, mining companies are under increasing scrutiny from pressure groups as well as the general public. Anglo American seeks to adopt fair and sound business practice. The company believes that it has an important role to play in building the capabilities of the communities where it works. Issues such as combating corruption and promoting revenue transparency are high on the company’s business agenda. This case study shows how Anglo American seeks to make ethical choices in its business practice. What are business ethics? Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between ‘right’ and ‘wrong’ and then making the ‘right’ choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery. However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly. However a company also has wider responsibilities. It should minimise any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility. ANGLO AMERICAN 25 www. thetimes100. co. uk The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo American’s case, this is called ‘Good Citizenship’. A business should also follow relevant codes of practice that cover its sector. Many companies have created voluntary codes of practice that regulate practices in their industrial sector. These are often drawn up in consultation with governments, employees, local communities and other stakeholders. Anglo American has played an active part in initiatives such as the Extractive Industries Transparency Initiative, the United Nations Global Compact and the Global Reporting Initiative. GLOSSARY Code of practice: written guidelines governing business behaviour. This could take the form of a voluntary code or a legally enforced set of regulations. Universal Declaration of Human Rights: a declaration adopted by the United Nations General Assembly in 1948 outlining human rights that should apply to all people. Engagement: the process of involving others in the decision making process. Anglo American has also contributed to the Voluntary Principles on Security and Human Rights. This code sets out principles and practices for ensuring that a company’s need to ensure the security of its employees and operations in volatile countries does not adversely impact upon the local population. Thus the Principles provide guidance on how both private and public security forces assigned to protect a mining operation or an oil and gas facility should be vetted, trained in human rights, monitored and controlled. Anglo American also aims to ensure that it plays a role in protecting the human rights of its employees and local people in countries in which it operates. The company supports the principles set forth in the Universal Declaration of Human Rights. All companies need to make a profit. However, Anglo American recognises that this objective must take account of ethics as shown in its statement on corporate responsibility: ‘Though providing strong returns for our shareholders remains our prime objective, we do not believe that these can or should be achieved at the expense of social, environmental and moral considerations. Indeed a long-term business such as ours will only thrive if it also takes into account the needs of other stakeholders such as governments, employees, suppliers, communities and customers. ’ An important process used by Anglo American is that of stakeholder engagement. This enables it better to understand the perspectives and priorities of external groups that are affected by its activities and to factor them into its decision-making processes. To support this work at a local level, Anglo American has developed a Socio-Economic Assessment Toolbox or SEAT process. This ‘toolbox’ helps managers to measure the impact of activities on the company and communities. It also helps to improve a mine’s contribution to development through, for example, using its supply chain needs to generate new businesses or to improve the water or electricity infrastructure. They use this toolbox to engage with stakeholders including community representatives. 26 Sometimes communities have to be resettled, with government sanction, in order for important mineral deposits to be accessed. This can cause controversy and divisions in the communities concerned. International best practice sets out a number of key stages in such a process including the need for structured consultation, fair compensation and the importance of restoring and enhancing the livelihoods of people in their new locations. Recently Anglo American has had to undertake two such relocations in South Africa at the villages of Ga Pila and Motlhotlo. These were undertaken with the support of the provincial government and local tribal leadership and after consultation with local people lasting for several years leading to agreement with each householder. New villages have been built with better houses and infrastructure and more land for farming. The relocation programme was voluntary. The relocation programme at Motlhotlo is still under way but at Ga Pila 98% of those living in the old village took up the offer to move to the new village. www. thetimes100. co. uk GLOSSARY Empowerment giving responsibility for making decisions to lower levels within the organisation or community. Indigenous: naturally existing in a place or country rather than arriving from another place. Why should a business act ethically? Businesses have great potential to transform peoples lives and to alleviate poverty through generating economic growth. They produce goods and services that customers want and they create jobs. Through paying taxes, they contribute to government revenue that can finance schools, hospitals and other public services. However, a business must keep in tune with the wishes of the societies it serves or it runs the risk of alienating its shareholders, stakeholders and customers. This would be bad for business, reducing growth and potentially affecting profit. Anglo American has to deal with many different levels of interest when setting up a new project. This includes, for example, the owners of the land and the people and services in the area. The current South African government has a policy of transferring a share of the ownership, management and benefits of the countrys mining industry to people previously excluded from the economy. Anglo American is backing the South African government in this process. This includes supporting black economic empowerment deals (BEE). Through this process, Anglo American has sold (usually at a small discount) 26% of its assets in South Africa to BEE groups. For example, Anglo American was instrumental in the creation of Exxaro. This is now the largest black-owned and managed mining company listed on the Johannesburg Stock Exchange. It also aims to have at least 40% of its managers drawn from the ranks of previously disadvantaged ethnic groups. Governments in the developing world face many challenging social and economic problems. They need companies that are ready to be part of the solution. Anglo American believes that it can support governments in reducing poverty and inequality and in improving health and welfare. In South Africa, the company has been a major campaigner for AIDS education. It was the first major company in South Africa to announce that it would provide free anti-retroviral drugs to its HIV-positive employees. It now has the largest workplace HIV/AIDS education, voluntary testing and treatment programme in the world. After running the programme for five years studies have shown that the programme has become self-financing through reducing deaths and the attendant loss of skills and cutting absenteeism rates by boosting the health of infected workers. What are the effects of acting ethically? Most business activity incurs financial costs such as equipment and labour. Non-financial costs include noise and impact on the environment. There is a financial cost to acting ethically. To engage stakeholders takes time and money. Mining in ways that minimise environmental impacts is more expensive than extracting resources regardless of impact. An ethical business also recognises its responsibility for minimising the non-financial costs. The Pebble Project in Alaska is a good example of the way that Anglo American takes account of non-financial costs. This is a gold and copper mining project in the early stages of assessment. This could provide new jobs and revenues for the Alaskan economy at a time when oil and gas revenues have been falling. However, some people are concerned that the mine could damage fish stocks and wildlife. Therefore, Anglo American has been consulting widely and through a structured process with local people, politicians, businesses and especially indigenous people. 27 ANGLO AMERICAN Anglo American has made it clear that it will only seek to proceed with the project if it can be done without damage to the local fisheries. It will also give priority to the recruitment of local people. www. thetimes100. co. uk The benefits of ethical behaviour Anglo American establishes goals each year for sustainable development. These goals include: †¢ working without fatal accidents †¢ eliminating occupational diseases †¢ increasing diversity in the workplace †¢ increasing the benefits of mining for local communities †¢ increasing energy efficiency. By working towards these goals, Anglo American hopes to gain a competitive advantage. By demonstrating a more caring and sustainable approach, the company is able to differentiate itself from rival mining companies. It makes Anglo American more likely to be the partner of choice for many governments and communities in the developing world. It also helps with its position on the stock market. Most long-term investors, such as pension funds that run investments for millions of ordinary people in the UK, believe that it is important for a company to consider social and ethical issues and not just the financial bottom line if a business is to be sustainable. Anglo American sees shareholder returns and social and environmental responsibilities as complementary activities. This puts the company in a stronger position. All stakeholders benefit – shareholders, employees, governments, local communities and suppliers. GLOSSARY Sustainable development: development which meets present needs without compromising the ability of future generations to achieve their own needs and aspirations. Competitive advantage: a strategic element that enables an organisation to compete more effectively than its rivals. Governance: the process of making decisions and governing. Conclusion Anglo American is a multinational organisation with a high profile in the primary extractive sector. Because many new mineral deposits are to be found in developing countries, some of which have weak governance, Anglo American recognises that it must be rigorous in observing local laws, even if they are not always enforced. It has a significant role in supporting good governance initiatives and boosting the opportunities available to the communities associated with its mines. The company is involved in a range of initiatives to help these communities, such as AIDS testing and provision of new local services like schools and clinics. Its socio-economic assessment toolbox helps it measure its impact and engage with local communities to resolve issues and to underpin initiatives like small business development or partnerships with local farmers. The Times Newspaper Limited and  ©MBA Publishing Ltd 2008. Whilst every effort has been made to ensure accuracy of information, neither the publisher nor the client can be held responsible for errors of omission or commission. The financial and non-financial benefits to the company and shareholders are shown in several ways. Anglo American is trusted as a business partner that takes into account social and environmental issues. It has licence to operate in countries like South Africa, Brazil or Chile, where it is playing an important part in encouraging local business development. Questions 1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical. 2. The benefits of ethical business behaviour affect the business itself and the wider community. Taking an example of an Anglo American business project, identify the benefits to the local community and to the company’s shareholders. 3. How is Anglo American’s reputation enhanced by engaging with local communities in decision-making? Why is it important for this engagement to be an ongoing process? 4. Some business decisions involve a careful balance of social, economic and environmental considerations. Evaluate how Anglo American achieves that balance, using examples from the case study.

Mergers and Acquisitions: Indian Banking Consolidation

Mergers and Acquisitions: Indian Banking Consolidation Globally it has been found that the mergers and acquisition have become one of the major ways to corporate restructuring which has also struck the financial services industry which has experienced merger waves leading to the emergence of huge banks and financial institutions. The main reason for mergers is intense competition among the companies in the same industry which put focus on economies of scale, efficiency in cost and profitability. Some other factors leading to the mergers is the too big to fail principle followed by the authorities. In few countries like Germany, weak banks were forcefully merged to avoid the problem financial distress arising out of bad loans and erosion of capital funds. Several academic studies have analyzed merger related gains in banking and these studies have adopted two approaches. The first approach deals with evaluating the long term performance of the merger by analyzing the accounting information such as return on assets, operating costs and eff iciency ratios. A mergers is considered to have led to improved performance if the the change in the accounting based performance is superior to the changes in the performance of the comparable banks that were not involved in the merger activity during that period. Another approach is to analyze the gains in stock price of the bidder and the target company around the announcement of the merger. In this approach the merger is assumed to create value if the combined value of the bidder and target banks increase on the announcement of the merger and the consequent and the stock prices reflect the potential value of the acquiring banks. The objective of this paper is to present a panoramic view of merger trends in India and to ascertain two important perceptions of stake-holders, shareholders and managers and to discuss dilemmas and other issues of this topic of Indian banking. Review of Literature for impact of mergers The two important issues which are examined by various academic studies relating to bank mergers are: impact of mergers on the operating performance and efficiency of the banks Impact of mergers on the market value of the equity of both bidder and the target banks. Cornett and Tehranian (1992) and Spindit and Tarhan (1992) provided evidence for increase in post-merger operating performance. However the studies of Berger and Humphrey (1992), Piloff (1996) and Berger (1997) did not find any evidence in increase in post-merger operating performance. Berger and Humphrey (1994) also reported that most of the studies that examined pre-merger and post-merger financial ratios found no impact on operating cost and profit ratios. The reasons for mixed evidence are: lag between completion of merger process and the realization of benefits of mergers, sample selection and the methods adopted in the financing of mergers. Further, the financial ratios may be misleading indicators of performance because they do not take into account for product mix or input prices. On the other hand researches may also could have confused scale and scope efficiency gains with what is known as X-efficiency gains. Recent studies have explicitly employed frontier X-efficiency met hods to identify the X-efficiency benefits of bank mergers. Few studies have also analyzed the potential benefits and scale economies of mergers. Landerman (2000) explored diversification benefits to be had from banks merging with non banking financial service firms. Simulated mergers of US banks and non-bank financial service firms demonstrated that diversification of banks into insurance business and securities brokerage is optimal for reducing the probability of bankruptcy for bank holding companies. Wheelock and Wilson (2004) found that expected merger activity in US banking industry is positively related to management rating, size of the bank, competitive position and geographical location of banks and is negatively related to market concentration. The second issue determined was the analysis of merger gains in terms of the gains in stock price performance of the bidder and the target banks on announcement of merger. In this case a merger is expected to create value only if the combined value of the bidder and target companies increases after the declaration of the merger. However a lot of studies have failed to find any direct relationship between the merger and the gains in performance or in shareholder wealth. But there are reasons for mixed evidence as a merger announcement also takes in to account the way the deal is financed .If equity offerings are used it may be interpreted as overvaluation by the issuer. Therefore the negative announcements returns to the firms that are bidding can be attributed to the negative signalling which is completely unrelated to the value which is created by the merger. Returns to the bidders companies shareholders is greater when the merger is totally financed with cash than in mergers in whi ch financing is done through equity offering. There is one more problem with this event study analysis as if there is a consolidation wave going on; mergers are anticipated by stockholders and analyst. Potential candidates for the mergers are highlighted and made popular by the financial press and the stock market analysts. In these cases the event study analysis may fail. Therefore an analysis of mergers across the world and a literature review does not provide strong evidence on the benefits gained by banks in the mergers in the banking industry. Also the findings of the literature also contrast with the findings of the consultants who find a considerable cost savings and operational efficiency achieved through mergers. The reasons why academic study do not find cost benefits and the consultants highlight this fact are Consulates may study a potential cost savings which may not materialize They tend to highlight potential cost saving activities and the economist study all the activities. They tend to be biased towards successful cases and ignore the unsuccessful ones. They tend blow up the benefits achieved while the benefits may be miniscule if accounted on a relative terms. The academic studies provide motivation for the examination and evaluation of two important issues pertaining to the mergers and acquisition to the Indian banking. Do mergers help in improving the operational performance and result in cost savings However in India most of the mergers are forced by the central bank in order to protect the interest of the depositors and avoid financial distress therefore the above mentioned reason is rarely found in the mergers activities. Do merger provide abnormal gains and returns to the acquirer and the target banks upon the declaration Consolidation Trends Observed in India Improving the operational performance and cost efficiency has always been a priority in Indian banking sector and has been a major issue of discussions in the policy formulation by the government of India in the consultation and with the central bank (Reserve Bank of India). Several committees have also been formed in order to suggest structural changes to achieve this objective. Some of the major committees formed are Banking Commission, 1972 Chairman R.G Saraiya, 1976 chairman : Manubhai Shah Committee for the functioning of public sector banks, 1978 chairman : James S Raj These committees have suggested the restructuring of the Indian banking system with an objective to improve the process of credit delivery and also suggested the idea of having around 3 to 4 large banks which have a pan India presence and the rest of the bank should be present at the regional level. The major thrust on consolidation started with the Narasimham committee in 1991. It emphasised and embarked upon consolidation and merger in order to make the Indian banks huge in size and also comparable to the global banks. A second Narasimham committe was also formed in 1998 which suggested mergers and consolidation among the strong banks in public as well as private sector and also with other financial institutions, NBFC (Non Banking Financial Companies). Now we will have a look at some of the recent trends in consolidation in Indian banking. Restructuring of weak Indian Banks Amongst other routes government of India has adopted mergers as a means to achieve restructuring of the Indian banking system. Many banks which are small in size and are weak are merged with other banks which are stronger and are larger to protect the interest of the depositors and also to avoid financial distress. These types of mergers can be termed as forced mergers. Hence when a banks shows symptoms of sickness like increasing size of NPAs, reduction in the net worth and substantial decline in capital adequacy ratio, RBI forces moratorium under the section 45(1) of the Banking Regulation act 1949 for a specified period on the activities and the operations of the working of the sick bank. In this period a strong bank is identified and asked to prepare and present a scheme of merger with the weak bank. In this case the acquirer banks takes hold of all the assets of the weak bank and ensures the depositors of their money in case they want to withdraw. The mergers which took place in the pre-reform period fall into this category. In the post reform period 21 mergers have taken place out of which 13 are forced mergers where RBI has intervened. The main reason for these mergers was the protection of the depositors interest and avoids the financial distress. Mergers which took place voluntarily Apart from forced mergers there have been few mergers in which expansion, diversification and growth were the major motives and in which RBI did not intervene or force. The first merger of this kind took place in 1993 when the Times Bank was acquired by HDFC bank which was followed by acquisition of Bank of Madura by the ICICI Bank. The latest of these is merger of Lord Krishnan Bank with Centurion Bank of Punjab. Although in all these deals the target bank suffered with low profitability, Increase in NPA and lack of alternate revenues in order to provide cushion for capital adequacy but these mergers were not forced. There was no regulatory intervention in these mergers however the motives behind these mergers may not necessarily be scale of economies and achieving market power. For instance ICICI bank acquired bank of Russia with a motive of entry in to Russia although it just had one branch. SBI acquired 51% stake in Mauritian Bank through Indian Ocean International Bank which wil l be integrated with the State Bank of Indias International business as a subsidiary. Integration of Financial Services and Achieving Universal Banking Model Several developmental financial institutions have been formed over a period of time in India in order to improve the efficiency of allocation of resources to different segments of the economy. However because of the flexibility given by the RBI to the banks in the credit delivery process the banks have increased and diversified their loan portfolio to various areas such as project finance, long-term loans, and other specialised sector lending. This is the reason why DFIs have become redundant. A working capital group (1998) was appointed by RBI which has recommended the universal model of banking by exploring the possibility of mergers between various sets of financial entities based on economical considerations. Similarly in the private sector ICICI merger with its subsidiary bank and IDBI (industrial Development Bank of India) was incorporates as a public sector bank which acquired private sector bank IDBI bank in 2004. In order to provide integrated financial services and achieve operation efficiencies many public sector banks have acquired their subsidiaries, for instance Andhra Bank acquired its housing finance subsidiary Andhra Bank Housing Finance LTD, Bank of India acquired BOI finance Ltd and BOI Asset Management Company Ltd. Acquisition of similar types took place in the private sector as well. Alignment of Operations of Foreign Banks with Global Trends As the Parent banks went under reconstruction process their parts operating in India also started restructuring. For example, Standard Charted Grindlay bank was formed due to acquisition of ANZ Grindlay by the Standard Charted Bank. Similarly due to acquisition of two Japanese banks like Sakura Bank and Sumitomo Bank Ltd the Indian operations of Sakura Bank were merged with Sumitomo Bank in 2001.Forign banks were permitted to enter into merger and acquisition transaction with any of the private sector bank in India with a condition that the overall investment limit limit will be 74 per cent after the second phase of WTO commitments which commenced in April 2009. This may lead to further consolidation in the Indian banking sector. Merger and Consolidation of Cooperatives, RRBs and UCBs Small banks present in India apart from other banks are co-operative banks, Regional Rural Banks (RRBs) and Urban Co-operative Banks (UCBs). These are formed for fulfilling the credit requirements of agriculture, small traders and SSI and other rural economic activities. All of these institutions are suffering from bad loans, operational inefficiencies, and Poor recovery of loans. This proved to be a barrier for further lending and financial intermediation. A committee formed under Jugdish Capoor suggested voluntary amalgamations or merger of these co-operatives based on various criterias like economies of scale, especially in areas where the operations of these banks have become unviable and there are no more in a position to supply credit to agriculture sector. 28 RRBs were consolidated into 9 new RRBs in September 2005.A high powered committee on Urban Co-operative Banks (1999) recommended that UCBs which are sick should be liquidated in a time bound manner as the operation of lar ge number of financially sick banks is devastating for UCBs and also for the interest of depositors. Due to this more mergers are expected in the future and RBI also has taken a lot of new initiatives for restructuring of banks including the issuance of guidelines in May 2005. Shareholders Perception of Merger As stated above the Indian banking sector has experienced two types of mergers – focussed and voluntary mergers. Forced mergers were initiated by RBI and their main objective was to protect the interest of the depositors and prevent financial distress of the banks. Whenever a bank showed symptoms of sickness like huge NPA levels, erosion of net worth etc, RBI intervened and merged the weak bank with a stronger one by force. Thus we can form a hypothesis that in case of forced mergers the target banks shareholders will gain abnormally with the declaration. The second type of merger is voluntary type where the motivation behind the merger is to achieve cost reduction, increase in size, diversification, strategic entry into a market. In these cases the acquired banks reaped the benefit of branch network and customer clientele of the banks acquired. In these cases both the acquirer bank and the target bank must have had benefit out of the merger. In this paper the mergers between 1993 to 2006 are considered. There were 21 mergers out of which only five were voluntary. These are mainly mergers of private sector banks with other private sector banks. Two cases are conversion of financial institution to commercial bank where the objective was to form a universal bank model which offers a wide range of financial services. Ina study conducted which is presented in this paper six cases of forced mergers were selected for the purpose of analysis as in other cases the target banks were not listed and the size of the banks were much lower than the acquirer banks therefore these cases are of less merit for further analysis. In this study the wealth effects of almost all the banking mergers during the period 1999-2006 is analyzed. The event study analysis used in this analysis is very straight forward and conventional. The merger period consist of four days prior and four days after the event. The reason for taking such window is to analyze the change in wealth of the shareholder around the day of the declaration on the merger. Daily adjusted closing prices of stocks and the market index is taken for the analysis. The abnormal returns are calculated as follows. ARit= Rit – [a + BRm] Here Rit: daily return on firm ‘i on day ‘t Rmt is the return on the bench mark index a and B are the regression parameters. The abnormal return is calculated for both the acquirer and the target firm and the significance of these values are tested by finding standard error and the t-value : Analysis of Research Results In forced mergers case the stockholders of target banks have not achieved any significant returns on the declaration of the merger. However in the case of Nedungadi Bank, the stockholder did gain significant on the 2nd day of the announcement but after that no abnormal returns were found. In the case of GTB the stockholders had deeply discounted the merger. As it was a case of serious case of bank failure the merger did give a confidence to the depositors but the merger declaration did not provide any abnormal returns. United bank did gain marginally on the announcement but it was not significant statistically. Thus the hypothesis that target banks shareholders welcome merger announcement as a safety net can be rejected. The shareholders of the acquirer bank lost their market value of equity. In case of ICICI bank, it was signalled as an emergence of a large private sector bank and hence due to which the banks shareholders expectations go up with significant increase in the returns. In other cases of acquisition the acquirer bank lost on merging with the weak banks. Hence in all the forced mergers neither the acquirer bank nor the target bank gained on declaration of the merger and the stockholders of the acquirer bank lost wealth as the announcement of the merger was taken as a negative signal. It is argued that merger of weak banks with strong ones is essential for restructuring of banking system and also a step in the consolidation of the banking sector. But in almost all the mergers it was found that the target banks for the merger were determined at the time when they were at the verge of getting collapse. The acquirer bank which was forced by RBI was left with no option but to accept the proposed merger. It is recommended that RBI should pursue Prompt corrective action system and should determine the weak banks on the basis of some defined criterias so that the acquirer bank can choose the target banks on the strategic issues which benefit all the parties . Abnormal Returns of Target Banks Abnormal returns of Bidder banks In case of voluntary mergers it can be seen that the target banks have obtained higher returns that the acquirer banks. Both the acquirer and the target banks stockholders benefitted on declaration of the merger. Therefore the stock market welcomed the merger which will lead to growth and efficiency aspects of the merged entity and benefitted the shareholders of both the banks. For instance in the case of acquisition of times banks by HDFC bank it was viewed as a positive signal by the shareholders of both the bank. At the time of the merger the Times Bank was crippled with increasing NPAs and low profitability, the acquisition by the HDFC bank gave relief to the depositors of the Times Bank. On the other hand HDFC bank emerged as the largest private sector bank by gaining from the retail portfolio of the Times Bank. In case of BOM acquisition by the ICIC bank the BOM gained the advantage of being able to provide services like Treasury management, cash management services to its cust omers and ICICI bank increased its size by acquiring BOM and reached the position of large private sector banks in 1999. At the announcement of the merger there was a steep rise in the gains which was reaped by the BOM shareholders however the stockholders of ICIC bank did not get any significant returns. In all the even study analysis revealed that neither the acquirer bank nor the target bank stock holders have perceived any potential gain on the declaration of the mergers. Hence the share holders who are important stakeholders of the banking companies did not consider the mergers as a signal of improving health, economies of scale and the market power of banks. Managers take on the Mergers Managers provide highest priority to the merger of the two public sector banks which provides a signals the banking sectors view on the need for consolidation of public sector banks. Managers do not prefer the merger of bank and NBFCs or financial services entities There are some issues which are needed to be taken care of while proposing a merger of banks according to the managers Valuation of the Loan portfolio of the target bank This is one of the main factor which is needed to be considered at the time of the merger. As in the management of the credit portfolio the accounting and the exposure norms suggested by the RBI are the same which helps in figuring out the book value of loans easily. However Indian banks have adopted divergent practices in rating the borrowers, loan pricing and maintenance of collateral securities therefore a detailed audit of the loan portfolio, cash flow generation and collaterals is very essential in order to get an opinion on the value of the loan portfolio of the target bank. Valuation of Intangible assets The valuation of the assets of the banks is a very critical factor for the success of any merger or consolidation. The tangible assets of the bank are loans, investment part apart from other fixed assets like buildings, ATMs and the IT infrastructure the bank owns. A commercial bank also holds a lot of intangible assets like clientele based on core deposits, safety value contracts, computer softwares, human resources, brands and goodwill. Determining the inherent strength of the bank based on the valuation of the intangible assets is also very important. Determination of the value of equity Determining the value of the target banks assets, liabilities and valuation of its equity value is the major aspect of a merger process. Various approaches can be used like dividend discount model, cash flow to equity model and excess return model. However banks have totally different operations than a normal manufacturing firm as they are highly leveraged because they have more than 90% of the resources as borrowed or as debt and banks are highly regulated institutions and regulatory instruction have vast implication in asset and income recognition. Interest rates volatility, regulatory capital adequacy ratios and restriction on dividend pay put ratios also have influence on the earnings of the banks. Human Resource Issues It is the most complicated issue in the merger process.HR issues like the service condition, strategy for rewarding people, employee relation, benefit plans and compensation, provision of pension, law suits and the trade union actions are very critical for the viability of the merger and the deal to go through. Cultural Issues This is also a critical issue in the pre-merger and post merger period. It is central to an organizational environment and recognizing cultural friction is very difficult as it results in various problems such as poor productivity, riff in the top management, increase in the turnover rates, delays in the integration process and failures in realizing the projected synergies. Information Technology platform integration In todays banking banks are highly dependent on the information technology. It has become a key strategic issue due to the impact it has on the operation of the bank. A significant portion of the synergy depends on the information technology integration. Divergent IT platforms and software systems have proven to be major constraints in the consolidation. Customer Retention Customers also major stakeholders of banks and are needed to be communicated properly about the merger and the customers of the target bank should be attended with utmost care. Various studies have shown that firms borrowing from target banks are very likely to lose their relationship with the bank on its merger.

lighthod The Web of Darkness in Joseph Conrads Heart of Darkness :: Heart Darkness essays

The Web of Heart of Darkness       Marlow’s wilderness is not vibrant nor majestic, nor is it boisterous in its vitality, illuminating and nurturing its lush bounty within its sensuous bosom.   It is not a wondrous place, intoxicating with radiant color and a symphony of sounds those who journey into its interior.   It is not quiescent nor serene, willing to reveal its secrets, easily subdued or tamed.   His wilderness is a primeval, mysterious enigma that swallows light and sound, rationality and language, imprisoning them deep within its immense folds.   It is fascinatingly savage, menacing in its power to mesmerize and lure, and finally to seduce the â€Å"bearers of a spark from the sacred fire† (67). Many had set out to conquer it, dreaming of creating splendrous empires; others had embarked on a quest to extract riches, fame, and glory from deep within its heart; yet others had been beckoned by the irresistible call of the unknown.   Lucky were those that could â€Å"glide past [it], veiled...by a slightly disdainful ignorance† (68), shielding themselves with the mantle of civilization, secure in their invincibility.   Marlow was luckier than most, for the wilderness called to his â€Å"very heart [with] its mystery, its greatness, the amazing reality of [its] concealed life† (95); yet he was able to realize in time that it was but an illusion, a â€Å"deceitful flow from the heart of an impenetrable darkness† (124), and to step back from the edge of the abyss. He was good man in search of purpose and adventure, believing he would find his aspirations by sailing the waters of a mighty river.   Upon arriving at his destination he was disheartened by the actions of his brethren, by their â€Å"conquest of the earth†, which to him mostly meant â€Å"taking it away from those who [had] a different complexion...than [themselves]† (70).   Contemptuous of their beliefs and brutal behavior, their greed and deceitfulness, he went in search of a man considered â€Å"the emissary of pity...science and progress† (94); believing that in him he would finally find someone to guide him through the â€Å"silence of the land† (95). However, the deeper he penetrated into the somber stillness of the wilderness, he could not escape the realization of his vulnerability.   In that landscape he could either be â€Å"swept off without leaving a whisper or a shadow behind†(114) or infinitely worse, â€Å"the powers of darkness [could] claim him for their own† (126).

Computers and History :: Technology Computer Essays

Computers and History The digital world of today can be understood as a product of late-Victorian construction of the machinery of information organization combined with Modernist visual forms. People living in a civilized country today live in a digital world. The children of today cannot imagine a time when computers were not widespread. Since computers have become essential for many tasks that we complete everyday, from shopping for groceries to communicating with friends and family, these kids can only picture how everything worked before the advent of the computer. This digital world is best represented by the World Wide Web, one of the most widely used applications of computers by many people. True, computers have many, many more uses than simply that of an interface to the internet. Countless people play a myriad of computer games, some write programs, and scores more use these programs, be they a student typing a paper with Microsoft Word or a pilot switching on an autopilot program after takeoff. With every passing day, however, more and more people receive access to the internet. The evolution of the World Wide Web is what the past decade will be remembered for in terms of computers. Today, the World Wide Web is made up of billions of web sites, each different in some way from the others. Where most of these sites cannot differ, however, is that, in order for them to make some kind of an impact on the user, and therefore have a point to existing, they must make use of some sort of visual (sites with pure audio are the obvious exception to this rule). The World Wide Web organizes these different Modernist visual forms in a format which is completely new. According to Dr. Simon Cook, â€Å"In the nineteenth century a premium was first set upon the development of technologies of memory.†[1] Cook goes on to elaborate, saying that as the nineteenth century came to a close, new forms of information organization, such as laboratories, photographs, and the cinema, came to replace older, less streamlined versions of organization, such as museums and the natural history cabinet. This progression has continued to this day, as the World Wide Web represents the newest form of information organization. But what kind of information does the World Wide Web organize? Most fundamentally, of course, text is stored on the web pages, which transforms it into hypertext.

Solange De Santis - Job design :: essays research papers

Introduction: Solange De Santis joined a General Motors van assembly plant in 1991. During her eighteen months at GM she suffered from boredom, strain, psychological distress, job dissatisfaction, a feeling of distrust and a lack of job security. All of these factors had a detrimental effect on her health, safety and productivity. What job re-design opportunities are available to foster a healthier and more productive workplace? In order to answer this question we adopt job and work design theory that will analyze her role and provide tangible solutions. The following three  ¡Ã‚ ®Job Design Approaches ¡Ã‚ ¯ will be explored: 1) Job rotation 2) Job enrichment 3) Teamworking. The article outlined below elaborates on three small psychological changes to make working conditions for De Santis much better, improving her job safety and productivity. We hope that ¡Ã‚ ±Little changes make a big difference in the long term. ¡Ã‚ ±(Julian Barling, Topic 9, slide 3) Job Rotation: De Santis is an autoworker on the van assembly line at the General Motors plant. She performs the same simple task, and repeats the same procedures everyday. There are no opportunities for her to learn new skills or face any new challenges. It is easy to imagine how boring and frustrated anyone in her position would become. In addition to the challenge of her routine she also works on high stress and overload because of the non-stop, always catching up nature of the assembly line. According to research, boredom can cause daydreams and strain which together can threaten her safety. These negative experiences impact her job satisfaction and motivation. What we should do is reduce boredom, strain and dissatisfaction. Through job rotation it is possible to re-design her job and make it much more interesting and fun which should reduce her current levels of boredom and stress. How is this possible? Job rotation can reduce De Santis ¡Ã‚ ¯s boredom, relieve her from repetitive movements, and increase motivation by diversifying her experience; job rotation provides the kind of flexibility and experience that will allow her to feel much more control of her work and develop important skills that can help to off-set feelings of uncertainty; job rotation also helps to improve morale, increases ownership and should enable her to reach her potential; it is also shown to lower fatigue and helps to produce greater satisfaction that reduces absenteeism/turnover problems. Therefore, job rotation can make her job healthier and more productive How to implement job rotation?

Explain what is happening in the passage of pages 120-128 of Wuthering Heights

It is this passage that Cathy realizes that she has made the wrong decision. She shouldn't have married Edgar she should be with Heathcliff. This realization is first saw when she saw her reflection in the mirror. ‘Is that Catherine Linton? ‘ Cathy asks this question because she saw someone that she does not recognize. She used to be a healthy, strong, wild girl and in her reflection she sees a pale, weak and unhappy woman. By seeing her reflection the reader can almost imagine what she is thinking. It seems as if she sees in the mirror her surroundings and realizes that it is her decision that puts her in this position. She chooses to marry Edgar and as a result denies her love for Heathcliff. From a feminist point of view it is a sign of Cathy's empowerment that she has finally realized that she shouldn't have married Edgar for his high social status, instead she should have married Heahcliff to satisfy her own feelings of immense love. It also touches on the fact that in this time period, once Cathy realizes she has made a mistake there is no way out of it, she has no means of escape, she is trapped. Cathy chose this path and as a result entered in to a world of distress and regret. From a moral point of view this passage also emits a strong message. Money and high status is not what makes you happy. You should choose to marry for love else you will end up regretting every minute. Also in this extract Nelly plays a very important role. She is highly unsympathetic to Cathy and she continually makes the assumption that Cathy has invented her illness. From a critics point of view it can be assumed that women during this time period used their frailty as strength to achieve what they want and make it so that they are in control. When Cathy asks Nelly why Edgar has not been to see her Nelly replies ‘the master has no idea of you being deranged, and, of course he does not fear that you will let yourself die of hunger' This is highly unsympathetic of Nelly and also very devious as Nelly has said nothing of Cathy's discomfort and ill health to Edgar, who would surely be worried if he knew. Cathy has further realization in this passage She previously thought that even though people around her hated each other they all still loved her ‘though everybody hated and despised each other, they could not avoid loving me' Although this gives a very self centered naive view of Cathy to the reader, it is true. What ever actions she pursued even if they hurt people they still can't help loving her. For example both Edgar and Heathcliff. She abandoned Heathcliff by marrying Edgar and by doing this ruined both of their lives however Heathcliff still endures undeniable love for her. Also Edgar is aware of Cathy's feelings for Heathcliff yet he still tends to her while she is sick and mourns for her greatly when she dies. This shows Cathy's great power in having control over men so much that they love her whatever she does to them. From a feminist point of view they would greatly reward Cathy for this. Also in this paragraph a complete turn around of Cathy's personality is shown. She is previously such a strong minded, self-confident character however it seem as though she has transformed in to a women with immense paranoia and depression. Not only has she realized that she wants to be with Heathcliff therefore feels regret and sorrow, but the man that she does have to stay with, the man she married, to her, does not care of her mental and physical state because he has not been to see her. She believes that Edgar will be happy to see her gone so that it ‘restores peace to his house' however this is not true. Edgar simply does not know of Cathy's state and this is all down to Nelly. Nelly has not informed Edgar as she believed that Cathy had invented her illness. I do not think that Nelly knows that in doing this she is actually making Catherine's illness worse as it is continually making her more distressed. ‘Tossing about she increased her feverish bewilderment' this paints a visual picture in to the readers head of the true state that Cathy is in. It is as though with time her mental state is quickly turning in to madness that she can't escape. Just like she can not escape her marriage. After this action Nelly realizes what the doctor said during her former illness. She should not be crossed; I think it is at this point that Nelly realizes the true seriousness of Cathy's case. Cathy continues to act with madness. Nelly describes her as ‘violent' which is the precise word judging from her following actions. ‘Pulling the feathers from the rents' Cathy then sorts the feathers according to different species. ‘That a turkeys, and this is a wild ducks and this is a pigeon's' This reference to birds transfers the readers m ind to the past when she was out on the moors with Heathcliff, open and free. The sense of entrapment enters the readers head again. The imprisonment of the Grange can not be compared to the open free moors. ‘Open the window again wide' I believe Cathy wants the window open because she feels this imprisonment and feels like only the wind from the moors can release her. When she opens it ‘the frosty air cut about her shoulders as keen as a knife' A very strong simile is used here because while Cathy feels as though the moors gives her a sense of freedom, this simile enters the feeling of death in to the readers mind by the word ‘knife' It is as if the moors knows that Cathy and Heathcliff can only be together once they are both dead. While looking out of the window Cathy claims that she sees Wuthering Heights ‘that's my room with the candle in it' the reference to the candle being lit is almost a resemblance of Cathy's life. It is though the candle still burns even when she has left Wuthering Heights but will soon die out when she dies herself. Cathy is the first one to make the promise that she will not rest until she is with Heathcliff. ‘I will not rest until you are with me†¦ I never will' so even when later in the book Heathcliff curses Cathy when she has died so that she will not rest peacefully, the reader knows that she does not want to rest without Heathcliff. When Edgar sees what is going on in Cathy's room he is extremely angry at Nelly for not informing him. His ignorance of Cathy's illness is shown ‘Catherine is ill? ‘ By Nelly not telling Edgar she has unknowingly ruined everything between them. Edgar has come too late because Cathy by this time has realized of her mistake. She gave him no glance of recognition' when he took her in to his arms. By this time she is in a different world, she no longer wants to be in this world of the Grange she wants freedom. It seems as if she has true hatred for Edgar. She acts as if it is his fault that Heathcliff and she are together when in fact it is her own fault. ‘You are one of those things that are ever found when least wanted and when you are wanted never! ‘ This shows she is mad that he has not come earlier when in fact it is all Nelly's fault for not making him aware. Catherine talks to him of death and where she wants her grave. This already shows that she has given up. It is as if she has no reason to live because she can't be happy without Heathcliff. ‘My resting place where I bound before spring is over' ‘in the open air with as head stone' this shows her link again with the moors. She wants to be buried there because it is where she feels safe; free and where she experienced the happiest times of her life.

Alu Potol Industry of Bd

Chapter 1: Information Systems in Global Business Today [MIS -L10/e] Multiple Choices 1. When nearly all core business processes are digitally enabled, Correct Answer: the firm is more competitive and efficient. 2. Which business objective refers to the achievement of higher levels of efficiency and productivity? Correct Answer: Operational excellence 3. Which business objective refers to increasing a company's revenues while decreasing its costs? Correct Answer: Customer and supplier intimacy 4. Which of the following consists of all the hardware and software that a firm needs to achieve its business objectives?Correct Answer: Information technology 5. Data shaped into meaningful form are called Correct Answer: information. 6. Raw facts that have not been organized into a useful form are called Correct Answer: data. 7. Which activity of an information system converts raw input into a meaningful form? Correct Answer: Processing 8. Which activity of an information system helps an orga nization evaluate or correct the input stage? Correct Answer: Feedback 9. Computer literacy focuses primarily on: Correct Answer: a knowledge of information technology. 10.The responsibility for monitoring the daily activities of a business falls to this organizational level: Correct Answer: Middle management. 11. The world's largest and most widely used network is the Correct Answer: Internet. 12. The linkage of two or more computers together to share data or resources is called a(n): Correct Answer: network. 13. Which of the following could not be classified a complementary organizational asset required to optimize returns from information technology investments? Correct Answer: The Internet and telecommunications infrastructure. 4. The technical approach to information systems includes: Correct Answer: computer science, management science, and operations research. 15. Which of the following would not be classified as a technical approach to the study of information systems? Corre ct Answer: Economics True or False 1. Changes in the business environment such as new accounting laws are spurring the growth of digital information. Correct Answer: True 2. Business processes refer to the streamlining of standard operating procedures in order to eliminate bottlenecks. Correct Answer: False . There is a growing interdependence between a firm's ability to use information technology and its ability to implement corporate strategies and achieve corporate goals. Correct Answer: True 4. The more intimacy a business can create with its suppliers, the more it can lower costs. Correct Answer: True 5. Federal and state regulations can force a business to improve its information systems. Correct Answer: True 6. Information is defined as data that has been shaped into a form that is meaningful and useful to human beings. Correct Answer: True 7.Information system input only captures data from inside the business but not from its external environment. Correct Answer: False 8. Me mbers of the organization evaluate and correct inputs through feedback. Correct Answer: True 9. Computer literacy focuses on both people and technology. Correct Answer: False 10. Knowledge workers are engineers or architects who design products or services. Correct Answer: True 11. Each organization has a unique culture. Correct Answer: True 12. The Internet has created a universal technology platform that allows businesses to create new services.Correct Answer: True 13. Intranets and extranets use the same technology platforms as the Internet. Correct Answer: True 14. Complementary assets are those assets required to derive value from a secondary investment. Correct Answer: False 15. It can be said that â€Å"all information systems are forms of behavioral systems†. Correct Answer: False Essay 1. Provide an overview of the six business objectives of information systems. 2. Information systems produce the information that organizations need to make decisions, control operatio ns, analyze problems, and create new products or services.Identify and describe the three activities found in information systems. 3. Explain the difference between computer literacy and information literacy. 4. Briefly describe how information systems influence organizations, people, and technology. 5. The study of information systems is a multidisciplinary field. Identify the six major disciplines that contribute problems, issues, and solutions to the study of information systems. Explain why no single theory or perspective dominates. Chapter 2: Global E-Business: How Businesses Use Information Systems Multiple Choices 1.Logically related sets of activities that define how business tasks are performed are called Correct Answer: business processes. 2. Which business function is responsible for providing customer service support? Correct Answer: Sales and marketing 3. Which business function is responsible for determining where to locate new plants? Correct Answer: Production and ma nufacturing 4. Which business function is responsible for tracking payroll transactions? Correct Answer: Accounting and finance 5. Which type of system tracks elementary activities of an organization? Correct Answer: Transaction processing system (TPS) . Which type of system produces reports on a regular schedule in a predetermined format? Correct Answer: Management information system 7. Which type of system is most often used for analyzing data? Correct Answer: Decision-support system 8. These systems address nonroutine decisions requiring judgment, evaluation, and insight because there is no agreed-on procedure for arriving at a solution. Correct Answer: Executive support systems 9. Systems that span all functional areas and focus on executing business processes across the firm are called Correct Answer: enterprise applications. 0. Which system stores all organizational data in a single central data repository? Correct Answer: Enterprise system 11. Which of the following would not describe how a firm can benefit from supply chain management systems? Correct Answer: Control the actions of machines and equipment 12. Which type of enterprise application is specifically used to help a business increase sales? Correct Answer: Customer relationship management (CRM) system 13. Which type of enterprise application stores directories of employees with special areas of expertise?Correct Answer: Knowledge management system 14. This term refers to the use of digital technology and the Internet to execute the major business processes in an enterprise: Correct Answer: Electronic business. 15. Which person is responsible for the overall use of information technology in a large conglomerate? Correct Answer: Chief Information Officer (CIO) True/False 1. Business processes refer to the manner in which work is organized, coordinated, and focused to produce a valuable product or service. Correct Answer: True 2.Information systems enhance business processes by enabling entirely new processes that are capable of transforming the business. Correct Answer: True 3. A well-designed single system can provide all the information an organization needs. Correct Answer: False 4. A human resource system is designed to plan the long-term force needs of an organization. Correct Answer: True 5. Transaction processing systems are designed primarily to analyze data and provide periodic reports to middle managers. Correct Answer: False 6. Much of the data in management information systems comes from transaction processing systems (TPS).Correct Answer: True 7. Transaction processing systems generally are flexible and have tremendous analytical capabilities. Correct Answer: False 8. Decision support systems (DSS) often rely on information from external sources. Correct Answer: True 9. Executive support systems are designed to address nonroutine decisions requiring judgment, evaluation, and insight. Correct Answer: True 10. Transaction processing systems are the only system t hat uses portals to present information to senior executives. Correct Answer: False 11.Supply chain management (SCM) systems are designed to collect data from various key business processes and store the data in a single central data repository. Correct Answer: False 12. Customer relationship management (CRM) systems help firm's identify, attract, and retain the most profitable customers. Correct Answer: True 13. Intranets are internal networks built with the same tools and communication standards as the Internet and are used for the internal distribution of information to employees. Correct Answer: True 14. Buying and selling goods and services over the Internet is referred to as e-commerce.Correct Answer: True 15. Computer programmers constitute the principal liaisons between the information systems group and the rest of the organization. Correct Answer: False Essay 1. What are â€Å"business processes†? What purposes do they serve in the firm? 2. Explain the difference bet ween a management information system and a decision-support system as they relate to middle managers. 3. Discuss the interrelationships among TPS, MIS, DSS, and ESS systems. 4. What is the function of a CRM system? 5. Businesses today are enabled by or based upon digital networks. What is meant by e-business and e-commerce?